Pudgy Penguins (PENGU) simply pulled off one thing spectacular – taking pictures up 124% in seven days to hit $0.033. PENGU now boasts a market cap of over $2.1 billion, plus it has overtaken DOGE to change into essentially the most traded meme coin globally.
However whereas PENGU’s having its second, there’s a more recent token – Snorter – which is elevating thousands and thousands in its presale. Some early traders even consider it’s the perfect meme coin to purchase proper now.
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What’s Behind Pudgy Penguins’ Explosive Rally?
Earlier right this moment, the Pudgy Penguins crew introduced that they’re partnering with Suplay, one of many largest collectible firms in China. There’s no data but on what the partnership will entail, however PENGU holders are speculating that it might deliver bodily collectible drops tied to token rewards.
The market’s response was rapid. PENGU spiked 21% after the information broke, Google search quantity ticked up, and social media chatter exploded. However that’s only one purpose for the bullishness. One other is Canary Capital’s submitting for a spot PENGU ETF that the SEC acknowledged final week.
This ETF would maintain 80-95% PENGU tokens alongside 5-15% NFTs, primarily making a hybrid fund that mixes meme cash with collectibles.
Crypto whales are enthusiastic about this fund. Knowledge from Nansen exhibits addresses holding over $1 million price of PENGU have been quietly growing their positions prior to now month. Even Binance and Coinbase received in on the hype – quickly switching their profile pics to Pudgy avatars.
Bitcoin’s New All-Time Excessive Lifts the Meme Coin Sector
PENGU isn’t rocketing by itself. All the meme coin house has been on hearth this week, with its general market cap pushing previous $66 billion. DOGE is buying and selling round $0.19, whereas PEPEs hovers at $0.0000123, and the viral MemeCore token has doubled in worth.
A key catalyst for all this demand is that Bitcoin crossed $123,000 to submit a brand new all-time excessive.
When BTC reaches new highs, it normally advantages your complete crypto market. Merchants begin feeling extra assured, and earnings from Bitcoin movement into riskier performs, making meme cash the apparent goal for these chasing larger returns. It’s a sample we’ve seen earlier than – Bitcoin leads, sentiment shifts, and capital rotates. And that’s precisely what’s occurring proper now.
Plus, there’s been a transparent improve in institutional funding in crypto. Whereas these establishments should not shopping for meme cash instantly, their purchases of BTC and main altcoins helps create a “risk-on” ambiance.
Is Snorter the Finest Meme Coin to Purchase? SNORT Token Presale Nears $2M
Whereas everybody’s centered on PENGU, Snorter – a brand new Solana meme coin buying and selling bot – is beginning to appeal to consideration on social media. The Snorter presale has now raised over $1.8 million, with SNORT tokens priced at simply $0.0983.
Token Zenith, a crypto YouTuber with enormous attain, featured SNORT in a video this week and has racked up over 7,400 views in simply three days. That sort of natural protection doesn’t occur by chance.
For these unaware, Snorter is a buying and selling bot inside Telegram that snipes new meme coin launches, provides copy buying and selling, handles automated orders, detects scams, and executes ultra-fast trades via personal RPC connections.
In an area the place most of those cash are pure hypothesis, Snorter supplies merchants with instruments they will use to achieve an edge. Snorter Bot automates tedious duties, helps stop scams, and rewards customers for holding tokens. That’s actual utility that might drive long-term demand.
Plus, in case you maintain the SNORT token, you get lowered charges (0.85% as a substitute of the same old 1.5%), staking rewards, and governance rights.
However does this make SNORT a greater purchase than straight meme performs like PENGU? It’s newer, so count on volatility; nevertheless, this additionally means it has a a lot decrease market cap and a smaller social media presence.
If Snorter continues to get dealer consideration – and secures just a few CEX listings after the presale ends – this small-cap token might see explosive progress.
So, whereas Pudgy Penguins may need the momentum proper now, Snorter’s buying and selling bot and rising communities on X (Twitter) and Telegram might make it the smarter long-term play.
Go to Snorter Presale
This publication is sponsored. CryptoDnes doesn’t endorse and isn’t liable for the content material, accuracy, high quality, promoting, merchandise or different supplies on this web page. Readers ought to do their very own analysis earlier than taking any motion associated to cryptocurrencies. CryptoDnes shall not be liable, instantly or not directly, for any injury or loss triggered or alleged to be attributable to or in reference to use of or reliance on any content material, items or companies talked about.
